Accounting Degrees in Massachusetts

As an original colony and landing place for many early settlers, Massachusetts is grounded in United States history. The home of Boston, Worcester, and Cambridge also yields exciting opportunities for many professionals, including accountants. The National Association of State Boards of Accountancy (NASBA) names Boston as one of the top 15 cities in the country for accounting careers.

The financial services sector is one of the most robust in the Bay State. Financial examiners, tax preparers, and financial risk specialists are a few popular careers in the state for accountants. Massachusetts also offers among the highest wages in the country for accountants and auditors.

Additionally, some of the top colleges and universities in Massachusetts, including Boston College and Western New England University, offer accounting degrees at various levels to prepare graduates for entry-level and advanced roles in the industry.

Below, dive into the benefits and considerations of earning an accounting degree in Massachusetts.

Sources: U.S. Census, Current Results, NCES, Statista, BLS

Massachusetts provides public higher education students with a unique opportunity to join its honors program network, available across its community colleges and state universities. These students can attend exclusive events and coursework to earn an honors designation.

The state also employs an impressive number of accountants and auditors. According to May 2022 data from the Bureau of Labor Statistics (BLS), 39,020 accounting and auditing professionals were employed in Massachusetts. For context, this number trails slightly behind North Carolina and New Jersey.

Furthermore, attending and graduating from accounting schools in Massachusetts could help learners propel their careers. Massachusetts is home to numerous accounting firms, including Alexander Aronson Finning CPAs and Deloitte, which offer ample in-state job opportunities for graduates. Additionally, several firms provide internships and entry-level positions for Massachusetts students and graduates.

Accounting Professionals in Massachusetts can access multiple industries beyond the financial sector in metropolitan areas like Cambridge, Boston, and Springfield. Top industries, like advanced manufacturing and clean technologies, pave the way for entry-level to experienced accountants to manage finances and investments.

Massachusetts’ appropriations for postsecondary education are slightly higher than the national average. However, tax revenue allocated to higher education is lower than average.

While distance education enrollment is significantly less common in Massachusetts than nationally, on average, a higher percentage of adults over 25 have a bachelor’s or graduate degree in the state.

Sources: NCES, SHEEO, U.S. Census ACS

Accreditation indicates that schools maintain high standards for academics, faculty, and student outcomes. Institutional accreditation comes from regional and national accrediting bodies that endorse schools meeting their standards. The New England Commission of Higher Education, a regional accrediting body, commonly recognizes Massachusetts schools.

Meanwhile, programmatic accreditation endorses accounting departments or programs within Massachusetts schools. Programs that achieve programmatic accreditation typically offer a modern curriculum and undergo a quality assurance process to ensure the best outcomes for their students.

The Association to Advance Collegiate Schools of Business often accredits accounting programs. However, some programs earn accreditation from the Accreditation Council for Business Schools and Programs or the International Accreditation Council for Business Education.

Learners should consider several factors when choosing an accounting degree in Massachusetts. For example, accounting schools differ in tuition costs, program content, and career and alumni resources.

One of the most important considerations is whether to attend an on-campus, online, or hybrid program. While fewer Massachusetts students pursue distance learning than the national average, online education is a popular option for many learners in the United States, with nearly 30% of students exclusively attending classes online.

Explore the key differences among on-campus, online, and hybrid accounting programs.

On-campus degrees are generally more popular among Massachusetts students than online programs. Many Massachusetts campuses attract students with scenic surroundings and proximity to Boston’s city life. On-campus learners might also prefer face-to-face interaction and the ability to network with local peers and professionals.

Some accounting degrees in Massachusetts are available online, which can benefit professionals who require scheduling flexibility. Many online programs offer asynchronous coursework, allowing students to fit lessons and assignments into their schedules. In addition, online programs provide the same curriculum as their on-campus counterparts, ensuring that distance learners receive a quality education.

Hybrid accounting programs blend on-campus and online learning. Students typically attend classes on campus one or two days each week or on weekends with the remaining coursework online. As a result, the hybrid format can be an excellent option for learners who want to save commuting time but still benefit from face-to-face instruction and hands-on experiences.

Along with tuition, students must consider fees, housing, and other costs associated with their degrees. Massachusetts schools tend to be costly compared with national averages. Fortunately, accounting schools in Massachusetts offer several types of financial aid to help learners pay for their degrees.

For instance, the MASSGrant and MASSGrant Plus programs provide need-based grant money to cover tuition and fees after exhausting other scholarships, grants, and financial aid. Some students may also qualify for one of several Massachusetts tuition waivers.

The Bay State offers its Commonwealth Commitment to reduce tuition and fees for students transferring to state universities from its community colleges. Additionally, federal financial aid is available for eligible learners to receive grants and student loans.

Accounting colleges in Massachusetts differ in setting tuition rates. Some schools charge lower rates for students who live in Massachusetts than for those who live in another state.

However, some schools charge the same tuition to online learners, regardless of their location. For example, the University of Massachusetts Dartmouth offers an online undergraduate accounting program for $332 per credit.

Students living in New England states outside of Massachusetts who attend eligible Massachusetts higher learning programs can take advantage of the New England Board of Higher Education’s Tuition Break program. This program provides reduced tuition for out-of-state learners.

According to World Population Review, Massachusetts has the country’s fourth-highest cost of living. Compared to the national average, the cost of living in Massachusetts is about 35% higher than the United States average.

Therefore, students who live in Massachusetts while attending school may need to budget for higher-than-average housing, transportation, healthcare, and food costs.

Massachusetts hosts a bustling economy in which multiple industries thrive. Nearly every industry and company can benefit from experienced accounting professionals to manage, oversee, and analyze financial transactions, investments, and risks.

Massachusetts’ need for accounting professionals is evidenced by its impressive employment numbers. For example, more than 40,000 bookkeepers and auditing clerks work in the state, followed by about 39,000 accountants and auditors. Similarly, these careers have excellent projected growth rates based on Projections Central data, as noted in the careers below.

The Big Four accounting firms have locations in Massachusetts, primarily in Boston. Additionally, Massachusetts is the central hub for companies like Dunkin’, Welch’s, and New Balance. Well-known companies, such as Amazon, Walmart, and The Home Depot, also maintain headquarters within the state, providing a broad spectrum of businesses for future accountants to consider.

Discover a few of the top accounting career options in Massachusetts below.

Bookkeepers handle and record financial transactions for companies. With Boston and other business-heavy cities in the state, Massachusetts creates many opportunities for these professionals in various industries. Businesses in the state employ an impressive number of bookkeepers and auditing clerks, paying them salaries of more than $10,000 over the national average.

Job Outlook in Massachusetts (2020-30): +9%

Auditors help companies adhere to compliance regulations regarding taxes, money handling, and financial reporting. They may work for one organization to handle audits internally or provide external auditing services for auditing companies. The BLS groups auditors and accountants together, with an average salary of nearly $12,000 higher than the national average.

Job Outlook in Massachusetts (2020-30): +21.6%

The finance sector ranks among the most prominent industries in Massachusetts. Financial managers oversee and direct finance departments, manage projects, and ensure that financial practices meet compliance standards. These professionals also spearhead the financial operations of manufacturing, healthcare, and other private and public sector businesses.

Job Outlook in Massachusetts (2020-30): +28.4%

Source: Projections Central

Source: BLS OEWS

Massachusetts pays more than the national average for all accounting careers noted above, creating a welcoming environment for upcoming professionals. For example, cost estimators in Massachusetts earn over $26,000, on average, more than the national average of $73,740. Additionally, Massachusetts employs many accounting professionals, especially bookkeeping and auditing clerks, accountants, auditors, and financial managers.

These salary and availability benefits extend to associate, bachelor’s, and master’s degree levels. As such, graduates can likely pursue opportunities in Massachusetts at any career level, including entry-level jobs and upper-level management positions.

Becoming a certified public accountant (CPA) in Massachusetts may provide additional career opportunities and higher salary potential. Like other states, Massachusetts sets specific requirements to obtain CPA licensure:

Refer to the Massachusetts State Board of Public Accountancy for detailed information about Massachusetts’ requirements for becoming a CPA.

Yes. Massachusetts has several colleges and universities offering accounting degrees at all levels, including Boston College and the University of Massachusetts.

Boston College offers its accounting program through the accredited Carroll School of Management. The flexible program has concentrations in finance and information systems, allowing learners to carve a career path that interests them.

According to the BLS, which groups data for accountants and auditors, Massachusetts accountants earn an average salary of $95,830. In Massachusetts, accountants who become financial analysts or financial managers can earn more than $100,000 a year.

Massachusetts’ broad range of industries allows accountants to work in various sectors and positions. Popular accounting jobs in the state include bookkeeping, financial management, and financial analysis. Compliance officers and personal finance advisors also have high employment numbers in the Bay State.